Corlytics acquisition news – Ireland-based Corlytics Acquired a Digital RegTech Platform from Deloitte UK

Plugged directly into international regulators, it is the only solution that enables clients to align with, and stay ahead of, regulatory demands, which increasingly require growing levels of proof of compliance.

This Deloitte UK RegTech platform and its unique capabilities add considerable breadth and domain expertise to further Corlytics’ capabilities from interpreting regulatory change, to mapping policies and now to controls – empowering users to find, interpret, understand and accurately implement regulatory change.

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It will extend Corlytics’ coverage in Europe and the US, and provide the capability to further augment the Corlytics platform for global Tier 1 organisations in financial services, but also into sectors such as Big Tech and Pharma.

Corlytics CEO John Byrne said: This is a transformational acquisition for clients. The RegTech market is growing and evolving fast, and Corlytics is positioned at the forefront. We continue to seek opportunities for sustainable expansion and consolidation, and are thrilled to incorporate this Deloitte UK platform and associated team. Deloitte UK has been using our intelligent data for five years now, and I’m thrilled to take this relationship to the next level. Our ambition goes beyond intelligent data solutioning – we aim to establish a new horizon and set a new standard for how compliance is managed.”

Deloitte UK Partner and Head of RegTech Kent Mackenzie will join Corlytics as Chief Operating Officer said, "The Corlytics business and this Deloitte UK RegTech platform are hugely complimentary, and as a combination can offer a truly unique, end-to-end platform in the market. This is a gamechanger for our clients and the industry. Together, we can completely address the critical challenges clients are desperate to solve, and elevate the value and intelligence placed on regulatory content and management.”

Cindy Chan, Managing Partner for risk advisory at Deloitte UK, said:
“Having built this platform from scratch over the last eight years, we are extremely proud of the growth the team has achieved and the service that has been delivered to our clients. Following the approach from Corlytics to buy the platform, we feel that this sale offers the best opportunity for the team to continue to grow the business and develop their careers.”

PROVEN ACQUISITION AND INTEGRATION

2023 saw Corlytics make two significant acquisitions– ING SparQ and Clausematch – creating an unparalleled platform that manages the entire regulatory risk value chain on a global scale, elevating its extensive offer for Tier 1 organisations including ING, BNY Mellon, ScotiaBank and SwissRe.

Further ambitious growth is planned over the next two years, with the global RegTech market anticipated to grow at a CAGR of 23.6% between 2024-2032.

Nils Vold, partner at Verdane, said: “We backed Corlytics as the RegTech category leader just three weeks ago, and we are thrilled to already be supporting John and his excellent team on their first acquisition since Verdane’s majority investment. As specialist technology growth investors, we partner with leading entrepreneurs, to support them on both their organic and acquisitive growth journeys. This acquisition is a fantastic step forward for Corlytics, its people and its customers.”

About Corlytics

Global RegTech consolidator Corlytics is a pioneer in content, automated policy compliance and attestation, and regulatory intelligence. Offering a platform that oversees the whole regulatory risk value chain, it gives compliance, risk, legal, and audit teams worldwide comfort on the constantly changing regulatory landscape.